d-day, page-20

Must be time I sold out of this company - it has finally turned me into a suspicious nutcase...

First I thought the announcement of a new Deputy Chairman might be signalling a foreseeable future when the Chairman would step down due to the NHS shambles... then I find myself wondering if it was just released to swamp the search engines, making it difficult to find news on what might (or more likely, might not), be happening at Morecambe Bay...

Seriously though, if Morecambe Bay hasn't gone live then I guess we have to prepare for a profit downgrade in the next 48 hrs and probably a significant impairment against intangibles assets.

I have a bottom line valuation of 51cps if Lorenzo go-lives via NPfIT are halted, but it might take some time to see any certainty around iSoft UK business. A discount to that seems more realistic. Lets hope we don't have to go there..